In the last part, we saw the top five midstream MLP gainers on Tuesday, October 13. In this part, we’ll discuss the top five midstream MLP losers on the same day.
Williams Partners (WPZ) was the top loser among midstream MLPs at the end of trading on Tuesday, October 13. It lost 4.5% yesterday. With this loss, Williams Partners’ YTD (year-to-date) returns fell to -37%. Its stock performance has been volatile since Energy Transfer Equity (ETE) and Williams Companies (WMB) announced the merger. For an in-depth overview of the merger, read A Complete Guide to the Energy Transfer–Williams Merger.
Energy Transfer Equity
Energy Transfer Equity is next on our list of the top five midstream MLP losers on October 13. It fell 3.8% yesterday. It has returned -19.7% YTD. Energy Transfer Equity is a pure play GP (general partner) with very few business assets. It receives cash flows from the LP (limited partner), GP, and IDR (Incentive Distribution Rights) interests in its subsidiaries. After the Energy Transfer Equity-Williams Partners merger, Williams Partners is expected to become the largest contributor to Energy Transfer Equity’s cash flows.
DCP Midstream Partners (DPM), NuStar Energy (NS), and Rose Rock Midstream (RRMS) were among the top five midstream MLP losers on Tuesday, October 13. They fell 3.8%, 3.7%, and 2.8% in the last trading session, respectively. These three stocks have returned -38.6%, -15.1%, and -34.3% YTD (year-to-date), respectively.
The Alerian MLP ETF (AMLP) and the Global X MLP & Energy Infrastructure ETF (MLPX) have returned -21.6% and -21% YTD. Together, Williams Partners, DCP Midstream Partners, and NuStar Energy account for 11.4% of AMLP. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has returned -21.2% YTD.